29 Jul CAN YOU DEMAND THE DIVIDEND PAYMENT?
need 100 words in each of the sub questions and need to comply with australian company law with sections and sub sections
Company law
1. 3 paragraphs in length that involves a private company.
• All directors must agree in writing
• A director meets with a third party and that director comes to an agreement with the party. Other director thinks this is a good idea. Much later it is a bad idea
1(a) Advise the individual director who entered the agreement.
(b) Advise the company
(c) Consider the action of the board as a whole (include I,F,L,A,C,A)
2. Listed public company with three directors, the constitution caps the financial leading of the company
• Two directors borrow for the company over the cap, they say to the bank that they are going to do something but they don’t do it
(a) Advice the bank (calling and buying the company)
(b) If a representative of a company signs the documents but didn’t give to the bank, does it change the position?
3. Private company (insolvent trading)
(a) The director say the company will be placed into administration. just before they say that they purchase the lot of stuff, the two shareholders are not informed at all about any of this actions on the part of directors.
(b) Are any deficiencies available for the absent director? (director defence)
(c) Do the two directors of the company have any rights? The two directors were not informed anything or part of it. Are the action taken or not taken to those absent directors (directors duty)
4. There is shareholder in public shipping companies. The company’s two directors spend more time overseas. One of the directors is a director in another company. Another cruise company is thinking about taking over the first cruise company and the bad director is involved in that company. First company pays dividend but no dividend this year.
(a) Can he challenge the appointment of directors in first company? Has anybody breached director’s duty?
(b) Can you demand the dividend payment?
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